Study shows banks investing big in GenAI, and it’s paying off [Video]

Banking tops other industries in adopting the technology for marketing, risk management, customer service and more

CARY, N.C., Oct. 28, 2024 /PRNewswire/ — A new report on the use of generative AI in banking finds that financial services leads other industries in implementing the technology. A recent survey found that 17% of banking leaders have fully integrated GenAI into their regular processes. Further, 3 in 5 currently use GenAI to some degree – and nearly all the rest plan to begin soon. Obstacles remain, led by data privacy and security concerns. But the study confirmed that banks are already realizing GenAI gains across the business.

SAS’ new GenAI report, based on a global survey of banking execs, offers an insider’s look at how banks are using GenAI, their biggest challenges, and the gains they’re already attaining.

New global research by SAS and Coleman Parkes reveals that banking leads other industries in implementing GenAI technology.

The …